Transferring a deed and property title requires legal instrumentation. It is one way to transfer the ownership of a property from you to another person, whether it is a buyer or a relative. This is also one way to include your spouse as one of the owners of a certain property. The process is done through an attorney who will prepare the necessary paper work, pay the corresponding fees and file the completed transfer papers with the proper offices. Below are some tips on how to transfer a deed and property title.
- If you are selling a piece of property to another individual, your attorney will prepare a warranty deed. This will transfer the claim on the property to another person and warrants that this person will have the rights to claim the property legally and ensures that the seller is the legal owner of the property that has been sold.
- Once you have decided to transfer a title to another person, you will be meeting with your attorney and the person to whom the property title will be transferred to. After you have ironed out your conditions and have agreed on them your lawyer will draw up a deed stating the agreed conditions and the name of the person who will be the new owner of the property. You, the recipients and other witnesses will sign the deed of transfer. A copy of the deed will be filed with the property section of the county where the property is located and will become a part of the public record and can be viewed by interested parties. The details such as who was the previous owner, the name of the new owner, how much the property is worth and when the property changed ownership will be available. Procedures for the transfer of property title vary by state.
- There are some conditions wherein the transfer of the property title is not allowed. In some cases some individuals who have high liabilities due to their jobs would like to transfer some of their properties to their spouses. This can lower the liability claims on them in some cases. However, if they get entangled in lawsuits, property transfers will not be honored by the court and in fact will be able to reverse these transfers.
- In cases property transfer is done when a senior property owner wants to transfer ownership of their property to his adult children. If the senior property owner is under Medicare and there are some claims that will be made by the state to recover some of the costs they have incurred, the state has the right to place a lien on the property, provided that the transfer of the deed happened during the benefits distribution within a five-year span.
The document transferring a deed or property title to you is a legal and binding document that should be scrutinized closely. There should be no typographical errors in the document. You should make sure that your name and the names of the other people involved in the transfer are correct and there are no errors in the spelling of your names. The description should also be correct as well as the deed transfer cost and the noted deed of transfer trust.